Business
Role of Carbon Credits, Blockchain & Carbon Market
Role of Carbon Credits, Blockchain & Carbon Market.
About this update from Sabien Technology Group Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 2629R\n Sabien Technology Group PLC\n 04 November 2021\n \n \n \n \n \n \n \n 4 November 2021\n \n \n \n \n \n Sabien Technology Group plc\n \n \n (\"Sabien\" or the \"Company\")\n \n \n \n \n \n The Role of Carbon Credits, Blockchain and the Voluntary Carbon Market\n \n \n Sabien Technology Group, the Company focused on a Green Aggregation Strategy, publishes research today that examines the role of new and developing markets for emissions trading. The Company is hosting a virtual debate on the Green Economy on Thursday, 11 November 2021. The research's scope and conclusions will be a component part of this debate. \n \n \n This report can be downloaded at: \n https://sabien.com/wp-content/uploads/2021/11/Carbon-Market-Report.pdf\n \n \n Authored by graduate students from Warwick, Shanghai Jiao Tong and Toronto Universities, the research compares the mechanics of the regulatory and voluntary carbon markets (respectively RCM and VCM), in the context of Emission Trading Schemes (ETS). Specifically, it assesses the path which carbon offset markets could take as the acceptance of blockchain technology improves.\n \n \n The report concludes that the VCM could grow from a base of US$282m in 2019 to US$50bn by 2030 (source: Mckinsey Consulting). In large part, this growth is based on the rapid acceleration of net-zero commitments from corporations and the concomitant ambitions of Governmental agencies such as the UK Taskforce on Scaling Voluntary Carbon Markets, headed by Mark Carney, recently Governor of the Bank of England and a key contributor to COP26.\n \n \n Maturing VCMs must address the issues of quality assurance, price volatility, and market structures. At present, the principle VCMs are characterised by a supply and demand imbalance which, the report concludes, reflects a lack of confidence in the status and fungibility of the associated credits. \n \n \n The report suggests that the UK's ETS, following the departure from the EU, offers significant benefits to organisations operating in transport and HVAC sectors. This is due to the UK's leading aim to reduce Greenhouse Gas (GHG) emissions by 78% on 1990 levels by 2035. However, while the UK has made progress in creating a robust market, including the introduction of a Cost Containment Mechanism (CCM), the report highlights t...